MS3 / Income thread !!!!!!!!!!!!!!!!!

[SwampAss]

CT has it. Concentrate one the easiest one to knock out and work on it til it's gone.

 

[camrycev6]

I have to add one more thought to Swampass's comment.. that isn't always obvious to folks with a lot of CC debt...

....Don't use your other cards (or the one you are paying off) unless you absolutely have too! If you start paying for everything with cash... you would be surprised how different it feels than a CC. Run up a 200 at a bar, throw it on a card...painless right? Do the same thing but lay out 10, 20 dollar bills...stare at them on the table....then tell me how that feels in comparison...

 

[flipstylex]

thx for the credit info ;-)..im still transfering , damn apr is too high !!!

 

[staples187]

20 yrs old, between 45-50k a year working for verizon wireless.

 

[$inCitySpeed3]

actually, as far as finding a 0% balance transfer offer, you can just call up one of your existing credit cards and threaten to cancel. in almost every case, the very first thing they will offer you is a 0% balance transfer to pay off some other card or balance.

this can be a damaging game to play, though. your credit will show an artificially high balance of revolving accounts owe. technically speaking, this will lower your credit, but if you're not worried about getting new loans at the time, this is a good way to save some cash if you're willing to put in the careful effort to manage things.

i do not beleive this at all...your transferring your balance to a 0percent is just good money managing...it has no effect on your credit, bedises the fact you are applying...as long as you apply within a 30 day period multi times it does not matter..its when you hit(apply) for a card every month. you can say all you want...i got a fat chunk on a credit card 8g's plus and i switch it all the time... my score is above 800 and hasnt went down since i started this...it's went up over 60 points

 

[Sacrilicious]

as has been said, what affects your credit score the most is how much you owe in revolving debt. using the 0 APR deal to give yourself the breathing room you need to knock out other revolving debts is definitely a good thing. like i said, playing this game CAN be a damaging game if you're not careful, but done right, it can definitely help you out. the fact that sincityspeed3 has high credit despite an 8k carried balance does not mean anything unless you know the other circumstances behind his situation. all things equal, his credit score would be higher if his revolving debt of 8k were lowered.

 

[altspace]

$452.22k

 

[DeadGeneration]

credit scores are kinda stupid. I have had no damages to my credit at all, and I don't know my score, but I know it's not the highest - why? I haven't borrowed ENOUGH money yet, apparently? It's stupid, it's like trying to trick me into borrowing more money to get my credit better, even though it's flawless haha.

So basically I haven't needed to borrow money, so when the time comes - like buying a house - they are going to say "who are you? here is a high interest rate since you have only been trusted with $1,000 credit which you kept flawless"

 

[Sacrilicious]

yes, it's kinda stupid, but then again, what do the financial companies have to go off of when you apply for a loan? quite honestly, they don't have time to sit around and research all your info, find out all this and all that about your financial trustworthiness and then analyze all the stuff and THEN decide if they're going to loan you that money. in the end, that's all the credit score is: a shortcut for them to figure out if you're going to run off with their money or not. yes, it can be pretty darn arbitrary and lame depending on your situation, but they honestly don't have time to sit down with each and every person and figure things out for real.

 

[Bravnik]

Director of Information Systems - 41 - 100k+